NEACH Payments Group (NPG) today announced a reseller agreement with Payment Authorities for their Statement Simple Service. This solution analyzes complicated credit card statements in minutes and identifies issues that could cost the merchant needless expense.
The Statement Simple solution does monthly audits and notifies the merchant, with a simple ‘thumbs up’ or ‘thumbs down’, of any new rates, fees or pricing changes from what is expected. Most business owners do not read their monthly credit card processing statements for the simple reason they are too complicated to read and understand. Pricing and rate changes might unknowingly happen multiple times a year leading to increased fees.
“We are delighted to add Statement Simple to our NPG services”, commented Sean Carter, president and CEO of NPG. “We continually search for solutions to enhance our clients' ability to serve their customers. This solution allows financial institutions to help their merchant customers save time and money. In addition, financial institutions can bring this service in-house by white labeling.”
“As payments experts, NPG recognized the benefits of our solution to their clients and saw it as a wonderful addition to their offerings”, stated Jeff King, CEO and founder of Payments Advisors, the owner of Statement Simple. “With over 20 years in the credit card business, I observed merchants are busy and this solution takes care of a time-consuming and potentially costly task. The solution also monitors return rates and possible fraudulent purchases. In fact, in a review of 205 randomly selected statements, we found issues with 74% of them.”
The Statement Simple Solution will build a stronger relationship with merchant customers through additional transparency, openness, and clear and understandable reports. The financial institution may add new merchant customers by monitoring credit card processing and having first-hand information regarding feeds, sales volumes, and other valuable information.
For more information regarding Statement Simple contact Ray Graber, Director, NPG at rgraber@neachgroup.com or call 781-321-1011.
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About NEACH Payments Group
NEACH Payments Group helps financial institutions, corporations, and vendors solve operational and regulatory challenges, manage risk, and drive financial or business improvement. For more information, visit neachgroup.com.
About Payment Authorities
Payment Authorities is a leading innovator of credit card statement analysis. Its Statement Simple product is designed for merchants to analyze their monthly statements in minutes. Developed by a guru of the credit card industry, Statement Simple helps empower merchants to fully understand their credit card fees, chargebacks, and other items hidden in these statements. For more information, visit paymentauthorities.com.